Samsung Could Reduce Its Workforce As Annual Reshuffle Nears (Report)

Samsung is still the leading smartphone vendor, but the Korean OEM has seen decreased profits in the past few quarters and reported its worst earnings in the past three years.

Amidst all the issues, it seems the employees fear that job cuts may happen as the annual reshuffle draws closer, which usually happens in December.

The report mentioned that employees used to scared of the reshuffle even when the company was performing extremely well, as that’s the time when employees get transfers, promotions or sacking.

“People are very uneasy; even the senior management are asking around about what might be coming,” said one Samsung employee. “We talk a lot about which of the senior executives will still be with us,” another Samsung employee told Reuters. “What happens to them will determine how we will need to work.”

Speculations also suggest that Samsung’s mobile business head J.K Shin may be asked to say good bye to the Korean company due. Furthermore, a report from a local newspaper also suggest that Samsung may reduce its 20 percent of executive positions across the board, including 30 percent from its mobile division.

Samsung didn’t comment on this issue as even the people who are being affected by the job cuts are being told a day or two before the announcement is made. December is here, and we’ll find out if Samsung plans to downsize the company to reduce its overheads.